Allegiant Travel (NASDAQ:ALGT) Stock Position Lifted by State Street Corp

State Street Corp raised its stake in Allegiant Travel (NASDAQ:ALGT - Free Report) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 608,977 shares of the transportation company's stock after purchasing an additional 10,050 shares during the quarter. State Street Corp owned 3.32% of Allegiant Travel worth $33,530,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Signaturefd LLC lifted its position in shares of Allegiant Travel by 149.2% during the 3rd quarter. Signaturefd LLC now owns 456 shares of the transportation company's stock valued at $25,000 after acquiring an additional 273 shares during the period. Nisa Investment Advisors LLC raised its position in Allegiant Travel by 136.9% during the third quarter. Nisa Investment Advisors LLC now owns 526 shares of the transportation company's stock worth $29,000 after acquiring an additional 304 shares during the last quarter. Privium Fund Management UK Ltd boosted its stake in shares of Allegiant Travel by 3.5% during the third quarter. Privium Fund Management UK Ltd now owns 10,549 shares of the transportation company's stock valued at $581,000 after acquiring an additional 358 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in Allegiant Travel by 8.1% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 6,010 shares of the transportation company's stock valued at $331,000 after purchasing an additional 450 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in Allegiant Travel by 8.1% in the 3rd quarter. Inspire Investing LLC now owns 7,490 shares of the transportation company's stock valued at $412,000 after purchasing an additional 562 shares in the last quarter. 85.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALGT has been the subject of a number of recent analyst reports. The Goldman Sachs Group restated a "neutral" rating and issued a $83.00 target price on shares of Allegiant Travel in a report on Friday, November 15th. Morgan Stanley upped their target price on Allegiant Travel from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 11th. TD Cowen raised their target price on Allegiant Travel from $50.00 to $70.00 and gave the company a "hold" rating in a report on Tuesday, December 17th. UBS Group assumed coverage on shares of Allegiant Travel in a research report on Tuesday, November 26th. They set a "neutral" rating and a $16.00 target price on the stock. Finally, Barclays lifted their price target on shares of Allegiant Travel from $50.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Allegiant Travel currently has an average rating of "Hold" and a consensus price target of $68.00.

Insider Activity

In other Allegiant Travel news, Director Sandra Douglass Morgan sold 350 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $80.77, for a total value of $28,269.50. Following the sale, the director now directly owns 11,650 shares in the company, valued at approximately $940,970.50. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Keny Frank Wilper sold 635 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $62.69, for a total transaction of $39,808.15. Following the completion of the sale, the chief operating officer now directly owns 16,353 shares of the company's stock, valued at $1,025,169.57. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,600 shares of company stock worth $2,476,465 over the last three months. Corporate insiders own 15.80% of the company's stock.

Allegiant Travel Price Performance

ALGT traded up $2.35 on Friday, reaching $84.47. The company had a trading volume of 397,734 shares, compared to its average volume of 368,937. The company has a market capitalization of $1.55 billion, a P/E ratio of -56.31, a PEG ratio of 7.17 and a beta of 1.67. The company has a current ratio of 0.75, a quick ratio of 0.72 and a debt-to-equity ratio of 1.36. The company has a fifty day moving average of $73.84 and a 200-day moving average of $56.78. Allegiant Travel has a one year low of $36.08 and a one year high of $94.45.

About Allegiant Travel

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.